Since BitGold is advertised as a gold investment strategy for the masses, this review serves to be a sort of primer for those who are interested in this new digital investment vehicle. Is BitGold something that could be a lucrative venture and is it for real? Following is a brief summary of information that might prove useful if you are considering jumping on board with this company. No BitGold review would be complete without it.
A Fairly Impressive List of Names Associated with BitGold
Before even trying to understand what BitGold is all about, you might want to know that there are some fairly impressive names associated with BitGold, Inc. Not only are there individuals with an active role in the company but there are several high-powered financial institutions that have made the transfer of funds available as well.
- CEO Darrell MacMullan – Formerly associated with the launch of PayPal in Canada and before that was actively involved with the growth of Chapters Indigo and eBay. That’s a pretty impressive background and one that will carry over to BitGold.
- Chief Strategy Officer Josh Crumb (and co-founder with Roy Sebag – CEO of GoldMoney) – Entrepreneur and formerly associated with Goldman Sachs as a Senior Metals Strategist
- Chief Technology Officer Alessandro Premoli – The man behind the proprietary platform for BitGold and the leader of the team located in Milan, Italy.
- Financial Institutions Associated with Transfer Platforms – Bank of America, US Bank, Charles Schwab, JP Morgan Chase – and the list goes on but all transfer partners are integrated with the ACH (Automated Clearing House) which enables investors to transfer, deposit or withdraw funds, making these transactions a whole lot more secure and reducing the possibility of transfer fees.
These are just a few of the names that are, and can be, associated with BitGold but enough to serve as a foundation for understanding that BitGold appears to be above board for those who question its validity.
What is BitGold?
Promoted as a gold investment strategy for the masses, BitGold is a way to invest in gold bullion without the need for a huge start up amount. At BitGold you can invest in grams rather than ounces, which means that you can invest a much smaller amount of money and BitGold, although digital currency, is backed by real gold bullion valued at over $12 million US dollars. Basically, it’s a way to buy in and sell out with very little cash to lay out in the beginning. Money can be transferred via the ACH and if you have an account at any of the participating financial institutions you can transfer funds to and from your BitGold account almost effortlessly with a few clicks online.
Advise to New Investors in Any Platform
One of the things that many new investors or traders should always understand is that nothing is ever infallible. As can be seen by the stock market crash of the Great Depression and the more recent financial woes of 2008 – 09 with the Great Recession, markets can tumble in a heartbeat. There is no guarantee ever that you will make a fortune and some investment vehicles are safer and better than others. It’s up to you whether you want something with higher risk and bigger returns or a lesser amount of risk but smaller returns. You need to invest with your own comfort level, always understanding that there will always be risks involved with any investment ventures.
Having said that, it appears that BitGold is a good investment vehicle for those with little capital to lay down on an investment venture but would like the opportunity to break into the market. Yes, there is a bit of risk, but there always is so with just a small amount of startup capital the risk is really reduced.